Sigma Investment Counselors Inc. Has $2.32 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sigma Investment Counselors Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,732 shares of the electric vehicle producer’s stock after selling 90 shares during the period. Sigma Investment Counselors Inc.’s holdings in Tesla were worth $2,315,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter valued at $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla during the 4th quarter valued at $46,000. PayPay Securities Corp grew its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TSLA. Piper Sandler upped their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Benchmark initiated coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $319.57.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 8.4 %

Shares of NASDAQ TSLA opened at $302.80 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $973.96 billion, a PE ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s 50-day moving average is $393.98 and its two-hundred day moving average is $315.69.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.